Residential Land For Subdivision Central FL
I just closed on 68 acres in Central Florida. Zoning in comp plan is 7 units to the acre. I am J.V.ing it with another investor. However, I am the manager of the LLC that we took title with.
We bought it intending to develop it ourselves and sell the 174 lots to builders in three phases. Today, we decided to see if possibly a builder wants to save some money and buy the land right now.
The way lot prices are going up here, it is a good bet that by the time he got the final approvals (maybe a year or so) the lots will go for $65,000 to $80,000. Right now they are $45,000 to $55,000 in this area but there are really none left anyway.
This is my first time to actually develope a piece so any suggestions from vets will be welcomed. My partner, on the other, and is very experienced in it up north. [ Edited by NancyChadwick on Date 04/27/2005 ]
Great info! Thanks Terry.